I beg to differ on that call, ellroy.. I think the 30kBOPD has already been factored in, so it should hold 1.40 barring any reserve downgrade or production rate falling below 30kBOPD. Anyway, I think the instos has been well-informed of the 30kBOPD, and no further downgrades would result from such an announcement since almost all the report I have read to date are all suggesting that figure to be the lowest point before well intervention.
As a close-ish comparison, woud you pay 1.16 bn for Hardman's E&P assets or 826mn for ROC's? I know which one appears more 'expensive' to me.
Yeah, I think a couple of insto's have factored it in. Call me cynical, but I still think they'll take an opportunity to sell it down if a further decrease is announced.
I certainly agree with you as to which is more 'expensive', I wish I had've had some cash when we were in the 1.40's, I definately would've topped up. Ah well, guess I'm gonna have to ride the wave up again!!
HDR
hardman resources limited
